Fortress Repair Dashboard

FORTRESS REPAIRHP Roll-Down Analysis

Generated: 2026-07-09 21:41:36
Payback gate: 12mo (1.0yr)
SS = Max(LC+ND, (LC+SP+ND)/2)

TOTAL HEDGE (CURRENT)

$23,003/yr

TOTAL HEDGE (CHEAPEST)

$24,766/yr

Δ HEDGE (CHEAPEST vs CURRENT)

+$1,763/yr

ROLL DEBIT (CHEAPEST)

-$8,525

MAX LOSS REDUCTION (PROTECTIVE)

-$52,000

PORTFOLIO ACTION SUMMARY · 38 positions

3 · ROLL NOW4 · LEAPS-ONLY31 · OK

Click any ticker row below to jump to its analysis section.

What do these actions mean? (legend)

NO HEDGE — No HP leg at all — naked synthetic long, no catastrophic protection.

ROLL IMMEDIATELY — Healthy fortress, HP expires ≤14d — roll the hedge out NOW (theta cliff).

REPAIR NOW — Structurally bad (HP ITM/tight or costly) AND ≤14d — roll HP DOWN today.

REPAIR SOON — Structurally bad AND ≤35d — roll HP DOWN this week.

ROLL NOW — Healthy fortress, HP ≤45d — roll the hedge OUT (maintain/raise strike).

REPAIR PLAN — Structurally bad but >35d runway — plan the roll-down, no rush.

LEAPS-ONLY — CSV-declared SP=0/HP=0 — intentional LC-only structure, no hedge to roll.

OK — Healthy structure with ample HP runway — no action.

REPAIR = roll HP down to a cheaper OTM strike (structure is hurting). ROLL = roll HP out/up to a later expiry (structure is healthy, hedge just expiring).

Fortress Position Overview

FORTRESS	STOCK	LC	SP	HP	SC	BE‑SS	CC‑SS	GAP	RM	HP OTM%	STATUS	CTRS	IC	NOTIONAL	URGENCY
BMNR → +10C −18P +10P	$14.70	10	18	10	0	$17.13	$19.77	8	2.28x	32.0%	SAFE	50	$31,250	$73,500	ROLL NOW (43d)
INTC → +85C −100P +35P	$115.91	85	100	35	0	$114.00	$117.38	65	3.24x	69.8%	SAFE	5	$14,500	$57,952	ROLL NOW (43d)
IREN (Neville) → +45C −65P +21P −48C	$44.24	45	65	21	48	$56.50	$58.06	44	15.67x	52.5%	SAFE	20	$6,000	$88,480	ROLL NOW (43d)
GOOG (Joint) +310C −380C	$355.31	310	0	0	380	$392.50	$338.43	0	1.00x	0.0%	N/A	5	$41,250	$177,655	LEAPS-ONLY
GOOG (Main) +310C −380C	$355.31	310	0	0	380	$392.50	$338.43	0	1.00x	0.0%	N/A	10	$82,500	$355,310	LEAPS-ONLY
IGV +70C −100C	$92.01	70	0	0	100	$96.50	$86.62	0	1.00x	0.0%	N/A	12	$31,800	$110,412	LEAPS-ONLY
SPY +640C	$748.00	640	0	0	0	$764.00	$694.40	0	1.00x	0.0%	N/A	12	$148,800	$897,600	LEAPS-ONLY
AMZN +215C −260P +230P −252C	$240.85	215	260	230	252	$256.25	$239.39	30	1.80x	4.5%	TIGHT	10	$37,500	$240,855	OK
APP +460C −540P +185P −600C	$515.93	460	540	185	600	$588.00	$605.76	355	3.77x	64.1%	SAFE	1	$12,800	$51,593	OK
CLSK +17C −17P +10P	$12.74	17	17	10	0	$20.74	$17.21	7	2.87x	21.5%	SAFE	25	$9,350	$31,850	OK
COIN (Main) +165C −240P +85P −215C	$157.15	165	240	85	215	$210.90	$216.70	155	10.23x	45.9%	SAFE	8	$13,440	$125,720	OK
COIN (RetireInc) +145C −200P +75P −215C	$157.15	145	200	75	215	$182.40	$188.78	125	7.31x	52.3%	SAFE	3	$5,940	$47,145	OK
COPX +65C −90P +68P	$74.44	65	90	68	0	$93.40	$94.43	22	1.77x	8.7%	OK	20	$56,800	$148,880	OK
CRWV +105C −120P +40P −90C	$93.42	105	120	40	90	$125.45	$127.81	80	4.91x	57.2%	SAFE	5	$10,225	$46,710	OK
DELL +340C −390P +150P −450C	$444.44	340	390	150	450	$398.00	$408.58	240	5.14x	66.2%	SAFE	3	$17,400	$133,332	OK
ENPH +45C −60P +20P	$44.64	45	60	20	0	$56.15	$58.88	40	6.48x	55.2%	SAFE	10	$7,300	$44,635	OK
ETHA +13C −16P +10P	$13.11	13	16	10	0	$17.33	$18.00	6	2.39x	23.7%	SAFE	50	$21,650	$65,525	OK
GLD +320C −450P +330P −410C	$378.45	320	450	330	410	$456.00	$470.61	120	1.88x	12.8%	SAFE	10	$136,000	$378,450	OK
GLXY +38C −38P +18P	$25.14	38	38	18	0	$39.71	$32.96	20	10.05x	30.4%	SAFE	125	$27,625	$314,250	OK
GOOG (Neville) +300C −345P +310P −380C	$355.31	300	345	310	380	$373.00	$337.20	35	1.48x	12.8%	SAFE	15	$109,500	$532,965	OK
GOOG (Neville) +340C −405P +360P −380C	$355.31	340	405	360	380	$398.00	$373.97	45	1.88x	-1.3%	ITM	5	$25,500	$177,655	OK
HIMS +10C −20P +5P −48C	$35.87	10	20	5	48	$17.47	$19.81	15	4.04x	86.1%	SAFE	15	$7,395	$53,805	OK
IREN (Joint) +25C −47P +35P −55C	$44.24	25	47	35	55	$44.00	$47.78	12	1.75x	20.9%	SAFE	20	$32,000	$88,480	OK
IREN (Main) +25C −47P +35P −55C	$44.24	25	47	35	55	$44.00	$47.78	12	1.75x	20.9%	SAFE	20	$32,000	$88,480	OK
IREN (RetireInc) +50C −70P +23P −48C	$44.24	50	70	23	48	$63.43	$66.18	47	7.86x	48.0%	SAFE	20	$13,700	$88,480	OK
MDB +270C −340P +150P −410C	$353.04	270	340	150	410	$362.90	$378.15	190	3.05x	57.5%	SAFE	1	$9,290	$35,304	OK
META +480C −650P +330P −630C	$584.02	480	650	330	630	$601.50	$605.49	320	5.38x	43.5%	SAFE	3	$21,900	$175,206	OK
MSTR +125C −185P +55P	$94.45	125	185	55	0	$161.00	$167.45	130	11.83x	41.8%	SAFE	4	$4,800	$37,780	OK
MU (Main) +880C −1010P +320P	$1022.43	880	1010	320	0	$1028.60	$1056.09	690	5.64x	68.7%	SAFE	5	$74,300	$511,218	OK
MU (Neville) +970C −1110P +370P	$1022.43	970	1110	370	0	$1220.00	$1248.25	740	3.96x	63.8%	SAFE	2	$50,000	$204,487	OK
NEM +88C −105P +75P −98C	$93.88	88	105	75	98	$114.54	$117.46	30	2.11x	20.1%	SAFE	5	$13,520	$46,940	OK
NOW +80C −110P +90P −112C	$104.92	80	110	90	112	$108.93	$113.06	20	1.72x	14.2%	SAFE	10	$27,850	$104,925	OK
NVDA +140C −175P +70P	$202.29	140	175	70	0	$199.60	$202.89	105	2.76x	65.4%	SAFE	5	$29,800	$101,145	OK
QCOM +190C −210P +90P −208C	$190.77	190	210	90	208	$224.00	$228.92	120	4.53x	52.8%	SAFE	5	$17,000	$95,385	OK
RIOT +17C −40P +17P	$21.38	17	40	17	0	$23.65	$31.52	23	6.25x	20.5%	SAFE	50	$21,900	$106,900	OK
RKLB +115C −135P +45P −101C	$84.52	115	135	45	101	$141.55	$147.94	90	4.39x	46.8%	SAFE	6	$15,930	$50,712	OK
SOFI +10C −13P +5P	$17.76	10	13	5	0	$15.75	$15.84	8	2.39x	71.8%	SAFE	35	$20,125	$62,160	OK
SPCX +150C −195P +135P	$149.68	150	195	135	0	$186.00	$182.47	60	3.22x	9.8%	OK	5	$13,500	$74,838	OK

BMNR: HP 10P Maintenance Roll-Out · exp Aug 21 '26, 43d

Stock: $14.70 Current HP: 10P (43d, 32.0% OTM) Current hedge: $11,459/yr Current ML: $71,250 CC income: $58,154/yr Cost cap: 25% of CC = $14,538/yr IV: HIGH 2 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 10 → 10P (Jan 15 '27, 190d, 32.0% OTM) | Cost: $12,775/yr (22% of CC) | New ML: $71,250 = ML | Roll DEBIT $5,700 | Margin (TIMS): $846

PROTECTIVE PICK: same as CHEAPEST (no higher-strike candidate clears the cost cap).

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	10 CHEAP PROT	Jan 15	190d	32.0%	$1.10	$1.33	$12,775	22%	$71,250	=	D $5,700
2	10	Nov 20	134d	32.0%	$0.77	$0.98	$13,347	23%	$71,250	=	D $3,950

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $20, B $0.05	$2,500/yr	$12,775/yr	DEFICIT $856/mo
CC at MID $18 0.6σ, B $0.45	$22,500/yr	$12,775/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at MID ($18, bid $0.45). Self-funds in BOTH normal and 0% drawdown. At SS the position bleeds, so don't drift too far OTM.

IREN (Neville): HP 21P Maintenance Roll-Out · exp Aug 21 '26, 43d

Stock: $44.24 Current HP: 21P (43d, 52.5% OTM) Current hedge: $11,205/yr Current ML: $94,000 CC income: $139,341/yr Cost cap: 25% of CC = $34,835/yr IV: HIGH 23 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 21 → 21P (Oct 16 '26, 99d, 52.5% OTM) | Cost: $11,503/yr (8% of CC) | New ML: $94,000 = ML | Roll DEBIT $2,740 | Margin (TIMS): $1,956

PROTECTIVE PICK (lowest ML within cost cap): HP 21 → 32P (Oct 16 '26, 99d, 27.7% OTM) | Cost: $34,288/yr (25% of CC) | New ML: $72,000 ↓ $22,000 | Roll DEBIT $8,920 | Margin (TIMS): $1,719

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	21 CHEAP	Oct 16	99d	52.5%	$0.93	$1.56	$11,503	8%	$94,000	=	D $2,740
2	21	Sep 18	71d	52.5%	$0.54	$1.13	$11,618	8%	$94,000	=	D $1,880
3	22	Oct 16	99d	50.3%	$1.17	$1.70	$12,535	9%	$92,000	-$2,000	D $3,020
4	22	Sep 18	71d	50.3%	$0.73	$1.23	$12,646	9%	$92,000	-$2,000	D $2,080
5	23	Oct 16	99d	48.0%	$1.28	$1.96	$14,453	10%	$90,000	-$4,000	D $3,540
6	23	Sep 18	71d	48.0%	$0.82	$1.44	$14,806	11%	$90,000	-$4,000	D $2,500
7	24	Oct 16	99d	45.8%	$1.50	$2.17	$16,001	11%	$88,000	-$6,000	D $3,960
8	24	Sep 18	71d	45.8%	$0.96	$1.61	$16,554	12%	$88,000	-$6,000	D $2,840
9	25	Oct 16	99d	43.5%	$1.71	$2.29	$16,886	12%	$86,000	-$8,000	D $4,200
10	25	Sep 18	71d	43.5%	$1.26	$1.84	$18,918	14%	$86,000	-$8,000	D $3,300
11	26	Oct 16	99d	41.2%	$1.96	$2.67	$19,688	14%	$84,000	-$10,000	D $4,960
12	26	Sep 18	71d	41.2%	$1.33	$2.02	$20,769	15%	$84,000	-$10,000	D $3,660
▶ 13	32 PROT	Oct 16	99d	27.7%	$3.80	$4.65	$34,288	25%	$72,000	-$22,000	D $8,920

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $55, B $2.17	$43,400/yr	$11,503/yr	SELF-FUNDING
CC at MID $55 0.5σ, B $2.17	$43,400/yr	$11,503/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($55, bid $2.17). Conservative far-OTM strike covers the hedge in BOTH normal and 0% drawdown — minimal assignment risk.

INTC: HP 35P Maintenance Roll-Out · exp Aug 21 '26, 43d

Stock: $115.91 Current HP: 35P (43d, 69.8% OTM) Current hedge: $340/yr Current ML: $47,000 CC income: $80,785/yr Cost cap: 25% of CC = $20,196/yr IV: HIGH 64 qualifying

CHEAPEST PICK (lowest annual cost, ML preserved): HP 35 → 35P (Sep 18 '26, 71d, 69.8% OTM) | Cost: $488/yr (1% of CC) | New ML: $47,000 = ML | Roll DEBIT $85 | Margin (TIMS): $3,378

PROTECTIVE PICK (lowest ML within cost cap): HP 35 → 95P (Oct 16 '26, 99d, 18.0% OTM) | Cost: $19,080/yr (24% of CC) | New ML: $17,000 ↓ $30,000 | Roll DEBIT $5,165 | Margin (TIMS): $2,496

#	NEW HP	EXPIRY	DTE	OTM%	BID	ASK	HEDGE/YR	%CC	NEW ML	ΔML	ROLL
▶ 1	35 CHEAP	Sep 18	71d	69.8%	$0.10	$0.19	$488	1%	$47,000	=	D $85
2	36	Sep 18	71d	68.9%	$0.07	$0.21	$540	1%	$46,500	-$500	D $95
3	37	Sep 18	71d	68.1%	$0.08	$0.23	$591	1%	$46,000	-$1,000	D $105
4	39	Sep 18	71d	66.4%	$0.12	$0.26	$668	1%	$45,000	-$2,000	D $120
5	35	Oct 16	99d	69.8%	$0.04	$0.39	$719	1%	$47,000	=	D $185
6	40	Sep 18	71d	65.5%	$0.15	$0.28	$720	1%	$44,500	-$2,500	D $130
7	39	Oct 16	99d	66.4%	$0.24	$0.43	$793	1%	$45,000	-$2,000	D $205
8	38	Sep 18	71d	67.2%	$0.03	$0.31	$797	1%	$45,500	-$1,500	D $145
9	40	Oct 16	99d	65.5%	$0.27	$0.46	$848	1%	$44,500	-$2,500	D $220
10	42	Sep 18	71d	63.8%	$0.17	$0.33	$848	1%	$43,500	-$3,500	D $155
11	43	Sep 18	71d	62.9%	$0.20	$0.36	$925	1%	$43,000	-$4,000	D $170
12	41	Sep 18	71d	64.6%	$0.07	$0.37	$951	1%	$44,000	-$3,000	D $175
▶ 13	95 PROT	Oct 16	99d	18.0%	$9.95	$10.35	$19,080	24%	$17,000	-$30,000	D $5,165

POST-REPAIR SUSTAINABILITY CC chain Aug 14 (36d)

SCENARIO	CC INCOME	HEDGE COST	VERDICT
CC at SS $118, B $12.65	$63,250/yr	$488/yr	SELF-FUNDING
CC at MID $133 0.4σ, B $7.55	$37,750/yr	$488/yr	SELF-FUNDING

FULLY SUSTAINABLE CC at MID covers hedge in normal + stress

CC WRITING STRATEGY

WRITE CCs at SS ($118, bid $12.65). Conservative far-OTM strike covers the hedge in BOTH normal and 0% drawdown — minimal assignment risk.

HP roll-downs do not change Safe Strike. SS = Max(LC+ND, (LC+SP+ND)/2). HP is not in the formula.

Monthly hedge cost prorated: (30/DTE) × (Ask × Shares). Payback = ML increase / Annual savings.

EST = ask price estimated as mid × 1.10 (10% safety buffer). Verify with live prices before executing.

Always prefer longest viable DTE for repair rolls (fewer rolls/yr = lower annual cost).